NEF and CREIA Release China Findings

New Energy Finance (NEF) and the Chinese Renewable Energy Industries Association (CREIA) have released a list of the top ten renewable energy developments in China in 2007.

The list includes China’s latest development plan for renewable energy that set national targets for all major renewable energy sectors for 2010 and 2020 respectively; PV cell production in China (not including Taiwan Province) exceeding the U.S. in 2007, making China third in the world behind Japan and Germany; and installed wind capacity in the country reaching 6 gigawatts (GW) by the end of 2007.

“In 2007, China invested around US $10 billion in renewable energy, making it second in the world. Most of these investments have gone to mini-hydro, solar water heating, and wind power projects…Currently, renewable energy accounts for 8.5% of China’s primary energy supply and 16% of its electricity supply. By 2020, these are expected to reach 15% and 21% respectively, or even higher,” said Junfeng Li, secretary general of CREIA.

The report was a joint effort between NEF and CREIA.

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